Bank of New York Mellon Corp Has $159.44 Million Stock Position in AECOM (NYSE:ACM)

Bank of New York Mellon Corp decreased its stake in shares of AECOM (NYSE:ACM) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,492,590 shares of the construction company’s stock after selling 36,261 shares during the period. Bank of New York Mellon Corp owned 1.13% of AECOM worth $159,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. lifted its position in AECOM by 95.9% during the 4th quarter. Principal Securities Inc. now owns 237 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares in the last quarter. Allworth Financial LP lifted its position in AECOM by 390.6% during the 4th quarter. Allworth Financial LP now owns 260 shares of the construction company’s stock worth $29,000 after buying an additional 207 shares in the last quarter. Private Trust Co. NA acquired a new position in AECOM during the 3rd quarter worth about $30,000. True Wealth Design LLC lifted its position in AECOM by 4,242.9% during the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock worth $31,000 after buying an additional 297 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in AECOM during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

AECOM Stock Performance

Shares of NYSE:ACM opened at $100.18 on Friday. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 1.63 and a beta of 1.19. The firm’s 50 day simple moving average is $105.54 and its 200 day simple moving average is $105.33. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. AECOM has a fifty-two week low of $82.23 and a fifty-two week high of $118.56.

AECOM (NYSE:ACM) last announced its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. As a group, sell-side analysts forecast that AECOM will post 5.1 earnings per share for the current year.

AECOM announced that its board has initiated a share repurchase program on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACM. Truist Financial upped their price target on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. KeyCorp cut their target price on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup cut their target price on shares of AECOM from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on shares of AECOM in a research report on Friday, November 22nd. They set a “buy” rating and a $130.00 target price on the stock. Finally, Barclays upped their target price on shares of AECOM from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $120.38.

AECOM Company Profile

AECOM, together with its subsidiaries, provides professional infrastructure consulting services worldwide. It operates in three segments: Americas, International, and AECOM Capital. The company offers planning, consulting, architectural and engineering design, construction and program management, and investment and development services to public and private clients.